The euro is a malfunctioning monetary union that was put together for political reasons. It is a currency in search of a government. Despite its inauspicious beginnings, the system could be made to work – but not under the current arrangements and probably not with the current membership.
The best way forward would be to undo this structure and put together a grouping of countries that could plausibly combine monetary, fiscal and political union. To this end, Germany should leave the euro, taking with her like-minded members, and leaving the southern countries to inherit the euro, thereby splitting the eurozone into north and south.
